Apr 22, 2011

Serasi Autoraya to sell Rp1 trio bonds

An integrated transportation services company PT Serasi Autoraya has mandated lead underwriters, PT Mandiri Sekuritas, PT Indo Premier Securities, PT Victoria Sekuritas, and to sale Rp1 trilllion bonds.
Local raing agency dubbed PT Pefindo has affirmed the ratings for the proposed bond for a maximum amount of IDR1 trillion at idA+ with outlook stable.
Serasi Autoraya provides an integrated transportation services both for corporate and retail segments. These include car and motorcycle rental, used car trading, taxi, logistic services, and shipping services.
At end of February 2011, Serasi Autoraya operated 25,093 units of cars and 5,012 units of motorcycles for rental service, 367 taxi units, and four vessels. The company is also supported by 33 branches, 53 rental outlets, 14 service points, and 359 workshops throughout Indonesia.
The company also has 15 retail stores of used car and 10 logistic branches. The company is wholly owned by PT Astra International Tbk, one of the largest and most diversified corporations in Indonesia.

Disclosure: No position at the stock mentioned above.
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